A rocky summer for equity markets
Volatility returned to global equity markets with gusto in the third quarter, stalling the bull market.
International stocks nosedive: While the Shanghai Composite selloff began in early June, it accelerated in August when the renminbi was devalued against the U.S. dollar. Concerns about Chinese economic growth put pressure on international markets.
U.S. equities see big drop: In August, the CBOE Volatility index registered the biggest one-month increase in its history. For the quarter, U.S. equities had their biggest decline since 2008.
Managers feel the pain: It was a particularly tough quarter for money manager stocks. Pure-play money managers tracked by P&I fell an average of 19.6%, more than any sector among Wilshire 5000 stocks.
Sources: Bloomberg LP, Wilshire Associates
Compiled and designed by Timothy Pollard and Gregg A. Runburg
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